Tech Shrinks Footprint, BioScience And Health Services Expands

Here in the San Francisco Bay Area a number of tech companies have recently announced that large portions or in some cases, all of their office facilities are on the sublease market. Work-from-home is here to stay for many reasons and this does not bode well for the overall health of the office market. However, the bio, life science and health industries have in large part not gone this virtual route. As one example, 20x Genomics, who leased two 150,000 sf office buildings in Pleasanton, just purchased a struggling retail shopping center nearby which they plan to demolish and build three new office buildings and a parking garage…One way to take care of obsolete retail centers!